SC to hear plea on Subrata Roy returning money to Sahara investors

| Updated: Oct 21, 2016 14:24 IST

New Delhi [India], Oct. 21 (ANI): The Supreme Court will today hear a case involving Sahara Group chief Subrata Roy in connection with return of money to its investors. Sahara has returned a total of Rs 18,000 crores to its investors till now. However, the apex had asked Sahara India to reveal the source of Rs. 18000 crores it had claimed to have paid back to the investors. The Sahara chief was sent to jail on May 4, 2014, for his failure to comply with 2012 order directing him to return investor's Rs. 17,600 crores with 15 percent interest that his two companies Sahara India Real Estate Corp Ltd and Sahara Housing Finance Corp Ltd had raised through optionally fully convertible debentures (OFCD) in 2007 and 2008. Roy has been directly charged in the case pertaining to non-refund of nearly Rs 20,000 crores to investor. (ANI)